The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Material For Textiles, Apparel, Leather And Related Products Manufacture Of Textiles 13 - Manufacture of textiles
350 jobs Number of planned job losses
Announcement Date
11 February 2004
Employment effect (start)
1 February 2004
Foreseen end date
1 February 2004
Description
Finex Confecções, Finnish textile company producing masculine winter sporting clothes, announced it will close its production site at Nogeira by the end of February, making 350 workers (most of them women) redundant. The amount of the compensation for the 350 workers corresponds to about 2 million euros, thus, each worker will receive, on average, 5,714 euros. Management states the lack of work to justify the collective dismissal. Unions consider it another case of delocalisation to countries where the workforce is cheaper (the group already has plants in China and Romania).
Sources
11 February 2004: Público
Citation
Eurofound (2004), Finex Confecções, Closure in Portugal, factsheet number 59508, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/59508.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
